Market Talk with Piranha is currently moving to its new home at The new site is up and running but many of the posts need editing as the images and stock charts did not transfer successfully (thanks blogger). I will post all new entries to both blogs – Thank you for your patience while I make this change!

Monday, July 12, 2004

Sideways market continues on this Monday

I am seeing a lot of red on my computer screen as I look at the stocks I am holding and research stocks that I could potentially add to my portfolio. As you all know, I am a follower of CANSLIM, modified slightly to my own personal likes and dislikes based on my own personal research. The ‘M’ in CANSLIM stands for MARKET and right now it’s not so healthy. I don’t recommend buying heavily in these conditions. Patience is key! You don’t have to be active on every trading day or even every week or month for that matter.

Two companies have recently caught the eyes of many investors:
AIRT – Air T Inc.
TZOO – Travel Zoo

They are not included on my screens this past week because of the structures of their bases (rapid advances) and the lack of support by the general market. I have stayed with Energy and Medical companies as I feel they have longer term potential, dictated by the charts.

TXU and ISSC have also made my preliminary screens but haven’t made it to the final weekly lists.

It is early and I don’t like to base decisions during trading hours. Let’s see where the day takes us.